Xylem upgraded to Buy from Neutral at Citi

Citi upgraded Xylem (XYL) to Buy from Neutral with a price target of $148, up from $135. The firm sees good growth potential over time and a relatively modest valuation versus historical levels. The analyst is encouraged by Xylem’s improving execution and margin expansion potential coupled with “still favorable” long-term trends in its global water-related end markets.